Yeah, Chester does really sound amazing in this song. Although that's not to say he didn't sound amazing before. Knivu, I understand what you're saying about him actually singing now, but it sounds like you're saying all he did was scream before. He has always sung more than he has screamed, it's just he isn't screaming at all in this, or even coming close.
And also, Mike (the rapper) is going to be singing a lot more on this album, as you saw in the video with him doing the backing vocals at the end, which I'm very happy about, because I think he's a better singer than he is a rapper.
You also should remember that it's very likely this is a more of a transitional single, still being sort of similar to the old stuff while still introducing a new sound. The rest of the album is supposed to be even more diverse.
And just to make this post longer, Chester and Brad have both made mention to what they think is their best song yet, which is apparently a 6 minute epic entitled "The Little Things Give You Away" which was inspired by the Hurricane Katrina victims. The apparently features a 1 minute solo that breaks into an acapella section, and if I remember correctly is described as the musical equivalent of dropping an atomic bomb, or something along those lines.